Hines Acquires Industrial Property In South San Jose From Shoe Palace For $19.9M
SOLD
$19,900,000
California
See Similar DealsIndustrial396,396 SF
Sold 06/15/2022
SOLD
Hines Acquires Industrial Property In South San Jose From Shoe Palace For $19.9M
644 Piercy Road, San Jose, California 95138, United States
See Similar DealsIndustrial396,396 SF
Sold 06/15/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$50
Total Square Footage:396,396 SF
Transaction Type:Sale
Located in South San Jose, the industrial property at 644 Piercy Rd. has been sold in a recent transaction. With a sale date of 06/15/2022, the property was acquired for a price of $19,900,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $19,900,000
- Address: 644 Piercy Rd.
- Market: South San Jose
The buyer in this transaction was Jeffrey Hines and Laura Hines-Pierce, representing Hines. On the other side, the seller was George Mersho, known for Shoe Palace.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,061,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,700.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,336.15
Annual Debt Service$1,132,033.83
Is there something missing? Send suggestions